Swiss based jeweler and watch maker Chopard was recently the victim of a jewelry heist. The luxury jeweler has been a sponsor of the Cannes film festival for 15 years and is known for loaning its jewels to celebs to grace red carpets at the event. According to the Daily Mail, the jewels were being kept in a Novotel hotel room safe by a Chopard employee. The thieves are said to have removed the entire safe from the room, making off with “bracelets, necklaces and other items all containing precious stones,” with an estimated value of $1 million.

According to Fashionista, Chopard is denying the value of the jewels as having been worth $1 million, stating “the value of the pieces stolen is far lower than those in the figures circulating in the media.” They also noted that “the jewels stolen are not part of the collection of jewels that are worn by actresses during the Cannes Film Festival,” which might explain the lack of bodyguard to protect said jewels.